1:22pm: Some more reactions, this time out of Victoria and Queensland:

Victorian Premier Denis Napthine says Qantas' decision is disappointing and he's still trying to get information on where job losses will occur.

Napthine said he understands that most job losses will be outside the state.

He said the government will work with the company and other governments to help sacked workers find new work.

Napthine said he has confidence in the Victorian economy and says jobs are growing. He said the state government has a positive relationship with Qantas, in particular Jetstar.

But state Oppositon Leader Daniel Andrews said the Napthine government had no plan for jobs in Victoria. He said the Premier took the credit for every new job created but blamed companies or ''some other factor'' when jobs were lost.

He said Qantas workers in Victoria would have a tough time retraining because the TAFE sector had been ''gutted'' by state cuts:

This is a tragedy. We as a state used to lead the way, now we have slipped so far behind and Victoria deserves better than a premier as a bystander.

Qantas is a national company, an international company really, it has no allegiance to our state, it is not the job of Qantas to be championing Victoria - that's the job of the Victorian government.

All he (Napthine) does is go to photo opportunities with Tony Abbott after more job losses.

Meanwhile, up in Queensland Deputy Premier Jeff Seeney had the following to say:

Well it is very disturbing for us to see any potential job losses in Queensland, but at the end of the day, Qantas, like other companies, has to be able to operate profitably.

We are very happy to work with Qantas to do what we can as a government to ensure that they do operate profitably, we will continue to work with them to make Queensland an attractive place for them to do business and for them to place considerable amount of their operations and we are waiting like everyone else today to see the details.

1:20pm: Trust us on the benefits of its tie-up with Emirates, is a message out of the analyst brifing. Qantas didn't reveal the financial benefit of its alliance but talked up how it's received strong support from customers.

Qantas International chief executive Simon Hickey said the tie-up provided the airline with a competitive network, giving it one-stop services to continental Europe.

But he declined to give a figure on its financial benefit to Qantas, citing commercial confidentiality.

Hickey also declined to comment on speculation Qantas is in talks with British Airways about forming a code-share deal with British Airways on flights between Hong Kong and London.

Qantas last year ditched its tie-up with BA on the kangaroo route to London in favour of Emirates.

''It is going to be a really tough for anyone who works at Qantas,'' Stitt says. "I am very concerned about anyone losing their job in Victoria given the current climate.

"There are thousands of people employed by Qantas and Jetstar across the group and I think it is very important to fight for every one of those jobs."

Stitt says the union is always prepared to talk with the airline but has to balance the company's needs against its members' wishes. She says the union will need to assess the company's claim that it needed a wage freeze until it's in profit.

"That is an indefinite claim. We will have to talk that through carefully with our delegates and our members and we expect to get more information about that tomorrow.''

Linda White, assistant national secretary of the ASU, which represents check-in, clerical, finance and administration staff, said Qantas has indicated 1500 ‘‘back office’’ jobs will be lost. She said the company had spoken about the positions ‘‘as if they don’t do anything’’.

She says he union will oppose a staff wage freeze when it meets with Qantas officials tomorrow. More than 60 per cent of the workers earn base salaries of $37,000 to $57,000 and 35 per cent are part time.

Shareholders obviously think so too, with the share price plunging after the company released its long-anticipated half year results.

The problem is Joyce is yet to outline the full details of a big strategic review, which was expected today.

Will its frequent flyer business be floated? What other assets might be sold besides the terminals? And most importantly, how will unions and the Abbott government react?

Qantas has announced 5000 jobs will go over the next three years, shrinking the workforce to 27,000. It will also call for a wage freeze across the company.

How wage freeze discussions will go down will be interesting given the carrier has 14 different union groups and 54 enterprise bargaining agreements, each of which are open for negotiation at various times. It will be interesting to see how the unions react and whether it triggers industrial action.

12:58pm:The analyst briefing has come to an end now. Here are some more points that were mentioned (or not):

Regarding Qantas International, no details were given on which regions are bleeding the most.

The fall in the dollar has driven a lot of profits out of Australia for foreign carriers. But because much of the new capacity has come from state owned carriers, this means they are slower to respond to revenue shifts.

As for selling off other terminals beyond Brisbane, progress may take time.

"Sydney discussions have been ongoing for a long period of time," analysts were told, with "significant operational issues to resolve" since this terminal is the hub for the groups domestic operations.

As for Melbourne, talks are at an earlier stage, and even earlier for Perth.

Qantas is profitable domestically especially since it has more than 80 per cent of the corporate market, the airline says. Hence its network spread and frequency is fundamental.

At the leisure end of the domestic market, Jetstar has a strong competitive position also thanks to the network, Joyce says:

You lose that advantage to your peril ... at both ends of the market. That is the key. We're not the aggressor in adding capacity, and Virgin-Tiger will add more capacity, even though it continues to lose money.

We need to keep that relative competitive position at both ends of the market.

12:52pm: Qantas has made it clear the tie-up with Emirates played a key role in shoring up its competitive position on the European route, says Brian Robins who's been listening in on the analyst briefing for us:

The Emirates alliance provides a competitive network, analysts have been told, since it allows a one-stop to-Europe trip whereas Qantas before the alliance had two stops.

"In terms of keeping our customers it has been very significant," analysts were told, but no financial details of the tie-up were given.

But the million dollar question is when will Qantas be profitable again?

"When and where that will happen will depend on ... exchange rate, fuel prices and the level of competitor activity," Joyce says.

But the focus from here will shift to negotiating with Qantas unions - in particular, avoiding industrial unrest which could disrupt flights.

Joyce says that he is to meet the head of the ACTU tomorrow, along with other union heads.

Focus will now shift to negotiations with the unions, to ensure there's no industrial action that would lead to flight disruptions. Photo: Bloomberg

Opposition Leader Bill Shorten says Qantas’ decision to cut 5000 jobs is the worst day for aviation in Australia since the collapse of Ansett and has accused the government of inaction as the airline signalled a need for support back in December.

Shorten says Labor will continue to support the airline being majority Australian-owned, as well as keeping its head office and board Australian-based.

He says it's time the federal government made clear whether it will offer a debt guarantee to the airline, rather than playing games and focusing on changes to the Sale Act:

They have been sending messages if Qantas makes what the Abbott government calls the hard decisions, they would come in behind them, they have been saying they would consider a debt guarantee.

Is it the case Qantas has made the very hard decisions, will the Abbott government back up what they have been hinting and promising the market, consumers, the aviation public or will they play political games and focus solely on the Sale Act?

The rest of the world has government intervention in their airlines. We would be the bunnies if we just waved goodbye to an Australian icon. If we believe there is a level playing field and somehow the rest of the world isn't investing in their airline, that would be a mistake.

Greens deputy leader Adam Bandt says the government should seek guarantees jobs would not be sent offshore before moving to offer support to the airline:

Alan Joyce and Qantas are a flight risk. Money and jobs could be on the next 747 flight to Singapore or Kuala Lumpur, if foreign ownership rules are relaxed and no conditions are put on government support.

It’s incredibly disappointing to see Labor today suggesting that they are open to increasing foreign ownership in Qantas. The Greens have been firm in our commitment to government support of Qantas, but only with a guarantee to protect local jobs.

Worst day for aviation since the collapse of Ansett, Bill Shorten says.

12:21pm: More from the analyst briefing currently occurring in Sydney:

At its heart, Qantas intends removing $2 billion in costs by financial 2017, partly by deferring growth and by limiting capital spending to cash flows.

The measures include fleet and network changes, productivity measures, consolidation at head office and the maintenance changes such as closing the Avalon heavy maintenance unit over the next months.

"A cornerstone is changes to labour productivity," Joyce says, with the 5000 jobs to be cut by fiscal 2017, with 4000 to be cut by 2015 including 1500 from management.

Redundancy costs will be booked in 2014 and 15 of altogether $500 million, analysts have been told.

In Singapore growth of the Jetstar Asia joint venture has been suspended until conditions improve, Joyce re-iterates at the analyst meeting.

Overall Qantas intends deferring or selling more than 50 aircraft, with the focus on the A320 aircraft both domestically and internationally as it pursues fleet simplification which will reduce maintenance costs.

Here, revived competition from Virgin-Jetstar has slashed the domestic profit pool from over $700 million to under $100 million in the December half, analysts have been told, with Virgin-Tiger capacity growth running at around 5 per cent.

But it is Qantas International which will form a large part of the cost base transformation, where competitive pressures coupled with the high oil price is causing most pain.

Long day ... Alan Joyce is now addressing analysts. Photo: Tamara Dean

11:51am: Investment bank Citi has put out a quick note on the Qantas profit results, which it says were better than it had expected:

While the result was at the lower end of management’s loss range, the focus is on announced labour initiatives, which should be seen as a painful necessity in permanently adjusting the cost base of the business lower.

However, without a cost base a lot closer to Virgin’s we see Qantas as remaining exposed to further losses of higher yielding customers.

Consequently, the revenue growth of Qantas remains a function of improvements in consumer and business confidence as well as lower capacity additions by both Qantas and Virgin.

Given Qantas’s reaffirmation of their focus to retain 65% capacity market share, we would need to see a greater lead by Virgin and Tiger in reducing domestic capacity growth, which remains uncertain.

Here's a quick look at Qantas' full-year and half-year results over the past four years:

11:48am: More reactions flowing in now from the unions: the influential pilots' union has described the Qantas announcement as a "demolition job" which had failed to "follow through with a strategy for how it will grow the business".

Australian and International Pilots Association president Nathan Safe said the Abbott government should be "twisting management's arm to be open and honest about where" the airline was heading.

"Otherwise, it is like supporting a plan to bulldoze half a house before the blueprints to rebuild have been drawn," he said.

Qantas boss Alan Joyce made it clear earlier that no part of the group would be safe from redundancies.

Meanwhile, Steve Purvinas, the federal secretary of the Australian Licensed Aircraft Engineers' Association (ALAEA) said the job losses were "on par" with what the union had expected but called for Joyce's scalp:

Mr Joyce said the results were unacceptable and we agree. He should be stepping down.

Air New Zealand posted record results today so the excuses don't wash. I don't know how any airline executive can continue to hold their position with results like this.

Queensland Australian Services Union branch secretary Julie Bignell has also condemned the decision to shed jobs:

ASU members across the company are front line staff. They’re in customer service, call centres and at check-in desks.

These are the people who make Qantas the company that it is today. They are the reason you fly Qantas and Jetstar.

Today’s decision shows a disregard for the loyal hard-working staff who have helped make the Qantas brand so successful. Wages and conditions are not the problem at Qantas, and Qantas should not look to punish working people for the poor business nous of the management group.

11:28am: Vicki Fotiades, of North Brighton, was off to the Gold Coast this morning when Deborah Gough asked her about Qantas’ job cuts and restructuring. Here's what she thinks:

"I think the whole country is going down the gurgler."

"I am a Qantas Club member and I want to stay loyal to Qantas."

"I don't think that the government is really supporting our companies. I think they (companies) have been whittling away and now all of a sudden it has come in a gush - the auto industry, SPC, now Qantas."

"From the Abbott government's point of view everybody has to stand on their own two feet but we are just going the way of America by doing that, but this is Qantas."

11:24am: Transport Minister Warren Truss has singled out Qantas’ high costs and wages as a key factor weighing the airline down and says the government will monitor markets’ reaction to the airline’s reported $252 million underlying loss on Thursday before moving to respond.

Truss also warned the airline the government expected it to dip into its own cash reserves before seeking federal support.

He predicted Qantas would never be able to compete with newer Middle Eastern airlines such as Eithad and Emirates, as well as emerging giants such as China Southern.

“The Qantas wage and cost structure places them at a significant disadvantage to the people they are flying alongside. Many of them are Asian carriers these days, they are Middle Eastern carriers where the wage structures are very much lower,’’ he said.

“Everyone has noticed the rise of Emirates and Etihad but we have to start watching the rise of China Southern and the major Chinese airlines. In my view, these major airlines in China will be dominating world aviation alongside Emirates and Etihad within literally three or four years.

“Their cost structure is very, very much lower then Qantas’ could ever be, so they will face continuing challenges in the international routes.”

11:19am: Alan Joyce's press conference is over now. Before we bring you a wrap of the main points, here are a few more topics he touched.

On changes to foreign ownership rule, Joyce says both sides of politics recognise there is an unequal playing field, calling the Qantas Sale Act 'lead in its saddle' in meeting the competitive pressures.

"We are making big inroads into a cost base. We are doing more," Joyce says with reference to the latest cuts outlined earlier today.

"Prioritising its core operations" is the new management theme, Joyce explained why Qantas is putting the brakes on the Jetstar Asian network push.

Jetstar is bedding down its existing operations in Japan while in other centres such as Singapore, competitive pressures have hurt profitability. Hence the 'go slow'.

"The board of Jetstar Asia has agreed to stop the growth in that business," Joyce says.

Meanwhile, Qantas chief financial officer Gareth Evans sayd the premium international business will bare a "significant proportion" of the $2 billion in costs.

He did not put an actual figure on it.

"Emirates is clearly, clearly, the right partner [for Qantas] to Europe," he said.

Joyce says all parts of the business will be affected by job losses, which would include pilots and cabin crew.

"Every aspect of the company gets impacted by this," he says.

Qantas has for years steered clear of making redundant its large workforce of pilots – including about 2600 who fly long-haul aircraft – preferring to allow them to take unpaid leave or seek time out to work for other airlines.

11:00am:First question for Alan Joyce is on his grip on the CEO job: coming amid plenty of calls for his resignation:

"I am absolutely committed to Qantas. Obviously the circumstances that Qantas faces today are very difficult. We have the capacity situation both domestically and internationally. But we have a plan to fix the problem."

Qantas declared a statutory loss of $235 million for the six months to December, compared with a $109 million profit in the same period a year earlier.

Revenue fell 4 per cent to $7.9 billion.

Qantas’ domestic operations reported a 74 per cent fall in pre-tax profit to $57 million, which was blamed on intense competition in the domestic market and growth in capacity.

But it was overshadowed again by Qantas’ international operations, which slumped to a $262 million loss compared with a $91 million loss previously.

Qantas said its alliance with Emirates ‘‘partially offset’’ the impact of capacity on routes in and out of Australia increasing by 9 per cent.

Jetstar also slumped to a $16 million loss from a $128 million profit previously, reflecting ‘‘the impact of domestic competitive pressures’’ as well as $29 million in start-up losses from its associate airlines in Asia. They include Jetstar branded airlines in Japan, Vietnam and Singapore.

The airline has not given any earnings guidance for this financial year. Nor has it paid a dividend.

10:28am: Qantas staff are still digesting the announcement, but some have been prepared to talk off the record.

One says staff are slowly learning the details of the long-anticipated announcement.

Another says some workers are waiting for redundancy and will be happy but others are still waiting to hear where the job cuts would hit hardest.

Meanwhile, passenger Bruce Cockburn, of Wantirna South says businesses need to make a profit.

"Obviously they are in trouble but whether they are overstaffed or not charging enough I can't say," Cockburn says. "He (Alan Joyce) is going to get the flick anyway but whether it was him or whether he is just the one in charge he has to bear the criticism."

"I think if customers are getting a good reliable service they couldn't care less whether they are turning a profit. It's a me, me, me society," he says.

10:23am: Brisbane Airport Corporation has issued a statement about its agreement with Qantas to buy the airline's long-term lease on its terminal at Brisbane Airport for $112 million.

Brisbane Airport corporation chief executive and managing director Julieanne Alroe says the agreement is an important step for the airport:

[It] is the welcome completion of BAC’s negotiations with our airline customers over the development of the new parallel runway.

It will also allow us to invest, over time, in better facilities and services at the northern end of the domestic terminal. BAC has a forward investment plan of more than $2.5 billion in improvements at Brisbane over the next decade.

Qantas holds a 31-year lease, signed in 1987, on the northern end of the Domestic Terminal at Brisbane Airport which is due to expire on December 30, 2018.

Under the new arrangements, Qantas would retain exclusive use and operational control over much of the northern end of the terminal until the end of 2018 while securing rights to key infrastructure beyond this period.

10:18am: A quick flip through the Qantas numbers shows red ink across much of its aviation operations - bar the domestic arm - but the stand out is its Loyalty program, which boosted its pretax profit to $662 million from $607 million.

As the perhaps only 'crown jewel' it perhaps underscores the reluctance to actively consider spinning it off.

Then there's the matter of spare cash, which goes to the heart of the group's woes: the balance sheet shows cash on the balance sheet has fallen to $2.4 billion from $3.1 billion a year earlier.

At the same time, net debt stood at $3.8 billion at the end of December, up from $3.2 billion just six months earlier, with the gearing (debt top equity) rising to 49.5 per cent from 46.5 per cent in six months.

No wonder the group is hitting the brakes and pulling hard on the joystick both at the same time.

ASU Assistant National Secretary Linda White says the decision is devastating for all workers at the company.

"It's outrageous that so many Qantas (and Jetstar) staff are going to bear the brunt of the poor business decisions made by Qantas in recent times," White says.

"Qantas have suggested they will seek to freeze wages until they achieve a full year underlying profit. This is an indefinite claim, and front line staff will have no influence over this outcome. It's punishing the workers for the poor business decisions made by Alan Joyce."

10:07am: We're still going through Qantas' announcement and here are some more cuts and changes to fleet and flight routes:

More than 50 aircraft will be deferred or sold

Qantas has suspended growth at Jetstar Asia in Singapore amid intense competition from other budget airlines in the region.

Qantas will retime A380 flights between Melbourne and London in November to reduce the amount of the time the planes stay on the ground at London’s Heathrow Airport. No mention of ditching the route though, as had been speculated.

The retiming will free up A380s, which Qantas will consider flying on other routes.

Qantas will retire six Boeing 747 jumbos in the second half of 2015-16, earlier than scheduled.

All of its Boeing 767s will be retired by the first quarter of 2014-15.

9:58am: Alan Joyce says he needed to "take actions that are unprecedented in scope and depth to strengthen the core" of the business.

“We have already made tough decisions and nobody should doubt that there are more ahead," he says.

“To reach $2 billion in cost cuts over three years, we have to work our assets harder, become more productive, retire older aircraft, and make sure that our fleet and network are the right size. We must defer growth and cut back where we can, so that we can invest where we need to."

Joyce also stepped up his attack on the airline’s arch rival Virgin Australia and again called for a level playing field in the domestic market.

‘‘It’s clear that the market Qantas operates in has changed, with structural economic shifts exacerbated by an uneven playing field in Australian aviation policy,” he said.

“The Australian domestic market has been distorted by current Australian aviation policy, which allows Virgin Australia to be majority-owned by three foreign government-backed airlines – yet retain access to Australian bilateral flying rights.’’

9:44am: Here are more details on the job and cost cuts revealed by Alan Joyce this morning:

Qantas will axe 5000 jobs, ditch unprofitable routes and retire ageing gas-guzzling planes, in the biggest shake up of its operations since it was floated almost two decades ago.

The job cuts from Qantas's 33,000-strong workforce will be across the board. The cuts include reducing management and back office staffing levels by about 1500.

It will also cut back on its aircraft maintenance operations and catering.

Qantas will also ditch flying between Perth and Singapore later this year and retire six Boeing 747 jumbos.

Qantas has also confirmed it has reached agreement to sell its long-term lease on its terminal at Brisbane Airport for $112 million. The lease was due to expire in 2018.

Under the arrangements with the airport, Qantas will retain exclusive use and operatioonal control over much of the northen end of the terminal until the end of 2018 while ''securing rights to key infrastructure beyond this period''.

Biggest shake-up for Qantas since its float in 1995. Photo: Craig Abraham

9:26am: As we wait for the Qantas announcement (due any minute now), here's some interesting analysis from CLSA analysts yesterday.

They reckoned that federal government help or a pursuit of assets sales will be ‘‘palliative not panacea’’ for Qantas.

The CLSA analysts also pointed out that the airline had not been not beating the drum about an ‘‘uneven playing field’’ in the decade after the collapse of Ansett when it had a near monopoly.

They also noted that the benefit to the airline from removing the Qantas Sale Act was not in giving more foreign investors the chance to buy a stake, but allowing it to offshore and outsource parts of its operation.

9:16am: Qantas hopes that by getting a federal debt guarantee it would be able to refinance cheaper, but National Australia Bank’s credit market team says there is only a small chance of the airline being able to shed its ‘‘junk’’ credit rating given Canberra appears to be looking to link support of a debt guarantee to the removal of the Qantas Sale Act.

In December credit rating agency Standard & Poor’s cut the airline’s credit rating to a downgraded the company to a "BB+/B" rating - also known as junk. A BBB- rating or higher is considered "investment grade" among bond investors. Remember, a higher credit rating helps reduce borrowing costs.

‘‘If and only if, the government was to provide an effective unconditional debt guarantee – at least one certainly not to be removed on repeal of the Qantas Sales Act then S&P would, as defined by its 'Government-Related Entities' rating methodology, likely classify Qantas as an entity which provides an 'important' role to the Government and with a 'limited' link between itself and the Government,’’ NAB’s credit team told clients this morning in a note.

‘‘That would likely see S&P assign a 'moderate' likelihood of extraordinary government support and, Qantas, with a stand-alone credit profile of BB+ would see it's corporate credit rating uplifted one notch to BBB-’’.

9:07am: Qantas has confirmed it has reached agreement to sell its long-term lease on its terminal at Brisbane Airport for $112 million.

The lease was due to expire in 2018.

Under the arrangements with the airport, Qantas will retain exclusive use and operatioonal control over much of the northen end of the terminal until the end of 2018 while ‘‘securing rights to key infrastructure beyond this period’’.

9:05am: As mentioned earlier, one of the discussions around Qantas is, if the federal government should lift foreign ownership rules to make it easier for the airline to attract foreign capital.

As it stands, any single foreign investor is limited to a 25 per cent stake in Qantas while foreign airlines can own no more than 35 per cent of shares in total. Total foreign ownership ship is capped at 49 per cent.

What to you think: should the foreign ownership rules be lifted?

Poll: Should the federal government lift foreign ownership restrictions on Qantas?

9:01am: Unions have been bracing for massive cuts at the airline for weeks, which is expected to include engineers and pilots among the redundancies.

Qantas has for years steered clear of making redundant its large workforce of pilots – including about 2600 who fly long-haul aircraft – preferring to allow them to take unpaid leave or seek time out to work for other airlines.

Qantas warned in December that it would post a pre-tax loss of between $250 million and $300 million in the first half, a period during which Australian typically make the lion’s share of their earnings

8:43am: A couple of hours and millions of dollars ahead of Qantas, Air New Zealand this morning reported a 29 per cent rise in interim profit before tax to a record $NZ180 million in a result that will outshine both major Australian airlines.

Air New Zealand, which is majority owned by the government, is Virgin’s largest shareholder.

Despite the intense battle between Qantas and Virgin on this side of the Tasman, Air New Zealand chief executive Christopher Luxon said he was optimistic about the future of Australia’s second-largest airline.

“Virgin Australia has a sound strategy and I look forward to helping the airline to realise its potential when I join its board. We are confident that over the coming years Virgin Australia can deliver consistent earnings performance,” he said.

Carter said that based on stable fuel prices and a traditional seasonal earnings pattern of a stronger first half, the airline expected to full-year earnings to rise to more than $NZ300 million.

Virgin is due to report a pretax loss of $49 million, excluding additional losses from Tigerair Australia on Friday.

The Qantas chief executive is under intense pressure from investors to reveal a credible way of cutting costs. Remember, shareholders have not received a dividend from Qantas since 2009. Once again, they are not expecting a pay out today either.

The focus will be on the extent of job losses which are expected to be anywhere between 3000 and 6000.

Joyce will also reveal details of a strategic review he announced back in December when Qantas warned it would slump to a pre-tax loss of between $250 million and $300 million in the first half.

Joyce has said everything is on the table under the review.

Analysts believe the most likely outcome today is sale of leases on its terminal at Brisbane Airport.

Sydney Airport chief executive Kerrie Mather made clear on Wednesday that the outcome of talks about it buying back from Qantas the long-term lease on the third terminal at the airport is still some way off.

Analysts also doubt Qantas will press ahead with a partial sale of its lucrative frequent-flyer business.

Qantas is also expected to reveal the early retirement of its ageing fleet of Boeing 767 aircraft, which fly on domestic routes, and Boeing 747 jumbos.

The airline could also delay the delivery of new planes including Boeing 787 Dreamliners.

As the ailing airline prepares to announce a big half-year loss and thousands of job cuts, the opposition had indicated it may back amendments to the Qantas Sale Act.

As it stands, any single foreign investor is limited to a 25 per cent stake in Qantas while foreign airlines can own no more than 35 per cent of shares in total. Total foreign ownership ship is capped at 49 per cent.

8:25am: Good morning. In what is shaping up to be one of the biggest tests of Alan Joyce's tenure, the Qantas chief executive will today reveal how he intends to save $2 billion in costs over the next three years to bring the struggling airline back to profitability.

Thousands of job cuts, the early retirement of planes and airplane terminal sales, and a float of its successful Frequent Flyer business are some of the possible measures that have been heavily speculated about voer the past few weeks.

Qantas is also set to post its biggest first-half loss since it was floated, having warned the airline has notched up a loss of between $250 million and $300 million.

This live blog will keep you updated on Joyce's plan for Qantas, the airline's earnings and reactions around the country throughout the morning.

27 Feb Questions and concerns fly around parliament house this Thursday. What will happen to Qantas? What can and can't you say to a general? What do you do if you're a lobbyist and then become a political staffer? Meanwhile, over in the committees wing, the departments of Foreign Affairs, Social Services and Employment face Senate estimates.

27 Feb Transport Minister Warren Truss has singled Qantas' high costs and wages as a key factor weighing the airline down and says the government will monitor markets' reaction to the airline's reported $252 million underlying loss on Thursday before moving to respond.

27 Feb Qantas boss Alan Joyce is spot on when he says the $252 million loss reported by the battered icon is ‘‘unacceptable’’ and ‘‘unsustainable’’. Shareholders think so too, with the share price plunging after the company released its results.

27 Feb Premier Denis Napthine does not know how many Victorian jobs Qantas will shed after it announced 5000 job losses across the country on what unions have described as a "black day for aviation".

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Yet another example of upper class corporate welfare. Lets be real CEO's and executives are earning obscene salaries with the workers always told to exercise wage restraint with retrenchment as the final payoff. The fact that the Abbott Gov't is happy to provide tax concessions to the mining companies who are taking resources that belong to all Australians, provide funding to private schools taking much needed funding away from the Gov't schools to great disadvantage of young Australians not to mention the maternity allowance for wealthy mothers this is not about 'governing for all Australians' as Abbott promised. This is a government which has no plan for the future following in the footsteps of the Howard era where our future was squandered with no investtment in education and the skills for a new economy..the lack of action under Howard is now apparent.

Commenter

George

Location

Melbourne

Date and time

February 27, 2014, 2:01PM

Poor Shorten just doesn't get it. Of course is very sad and regrettable that we might lose Qantas but hard business decisions have to be made and that is a fact of life.Unfortunately Shorten only views everything through the eyes of the unionist that we always was and has no experience in the real commercial world. Conroy HAS to go and maybe Shorten should join him.

Commenter

adrac

Location

nsw

Date and time

February 27, 2014, 1:52PM

Can the aviation commentators do a simple table to compare AIRNZ and QANTAS that reflects KPI’s which show where QANTAS is non competitive. Is it fleet utisation, is it Revenue per seat, is it engineering staff and baggage handlers employed per aircraft turnaround, is it number of head office staff per aircraft hours flown etc Why can such a remote but innovative airline make a profit if we are lead to believe that economic conditions are so bad for QANTAS. AIRNZ has the same competition on Asian routes as QANTAS. Would be great to see some informed figures than than the political debate which is a lot of rheteoric.

Commenter

Hoops

Location

Lake Macquarie

Date and time

February 27, 2014, 1:47PM

I'm going to vote with my feet. You can have your Platinum Membership back. I am no longer going to fund your ridiculous pay package. Agree with above comments, Pilots and staff will now have more room in business whilst the loyal PAYING customers enjoy cattle class.

Commenter

I'm a Virgin

Location

Date and time

February 27, 2014, 1:36PM

I sincerely hope the FIRST of the purported 5000 jobs losses is that of the CEO Alan Joyce.He tenure has been nothing short of a disaster. Ireland is calling.The unions also need to responsibility for some of the losses - mainly penalty rates and their total unwillingness to change their attitudes due to new technology.But the person I hold mainly responsible for this disaster is Joyce and the board.QANTAS has the best record of ANY airline in the world - something not to be sneezed at.

Commenter

Michele

Location

Templestowe

Date and time

February 27, 2014, 1:34PM

Unions are doing a brilliant job of de-unionising Australia by destroying the jobs of every union member through unaffordable conditions.

As usual, nothing from the Leftists except childish calls for Joyce to go. All these Leftists who've never run a business or even employed someone think they know better how to run a multi-billion dollar airline. Hilarious.

Commenter

Gatsby

Location

Date and time

February 27, 2014, 1:27PM

It is true that unions are de-unionising Australia.

It was something Paul Keating tried to stop, and succeeded for many years.

Today, Mark Latham (the same person who lost credibility as Oppn Leader) is saying similar things, arguing that consumers are voting against Australian manufacturing.

The issue with Qantas is that it cannot be restructured because the things that needs to be restructured are the conditions of the Qantas employees, which the unions refuse to change. I guess Allan Joyce is trying to fix that by outsourcing (overseas and in Australia) everything. He is battling against the odds here, but I hope that Qantas survives. I just don't think it is likely.

On Mark Latham's piece, it has the usual mix of plausible and silly. It is certainly true that consumers are voting against local goods. However, it is not the job of consumers to balance the economy - it is the jobs of governments.

If governments keep exposing Australian jobs to fierce overseas competition there will be very few jobs left for anyone except for the elite, and a core of jobs that can't be shipped overseas.

We need a new economic agenda, and only the DLP are thinking about it - that's a blast from the past for you!

From the rest, all we get is the glib statement that service jobs will fill the void. Good luck with that, even though it has worked for the last 30 years. I am fairly confident it won't work for the next 20.

What does that say about the future of Australia?

Commenter

Graham Lovell

Location

Sydney

Date and time

February 27, 2014, 1:58PM

I really think that Geoff Dixon is to blame for the insight to the future of Qantas and where it is today. All the decisions that should have been made back in Dixon's era are now hurting Qantas and the industry. How did Air New Zealand come back from near closure?

Commenter

Not Happy Geoff!

Location

Date and time

February 27, 2014, 1:26PM

Yeah Alan, lets remove 5000 jobs. No problem. Your cred has gone out the window buddy. Best be removing yourself first. I can understand why you would hold on, because no one else will employ you.

Commenter

Mich

Location

syd

Date and time

February 27, 2014, 1:22PM

I just find it disgusting that the poor worker has to suffer because someone higher up couldn't do their job properly! Qantas is an iconic Australian brand and should have a business model that every company in Australia can inspire to. What a disgrace.

Commenter

Mich

Location

syd

Date and time

February 27, 2014, 1:13PM

Perth-Singapore to be discontinued means from Perth you cannot fly to Europe direct with Qantas. Very Eastern States based decision. I like Qantas International but now cannot travel with it - does not make sense. Also the unions will be 'yelling from high places' - they have been a big problem with all their demands over the years. Qantas must fix the work practices issue. As for Virgin I still see them as essentially a foreign airline so my support stays with Qantas.

How many mil are they spending on their flashy new "campus-style" head office in Mascot? Obviously things aren't too bad.

Commenter

David

Location

OutEast

Date and time

February 27, 2014, 1:08PM

abbott should stop chartering private jets & start supporting Qantas

Commenter

v0ter

Date and time

February 27, 2014, 1:08PM

I started flying frequently with Qantas in 1982. I have watched with despair in recent years as the level of service and quality has dropped. The damage to the brand world wide with the unheralded grounding of the fleet was extremely damaging. I know of people who even now will not fly Qantas bacause of that event and the problems it caused. Nothing short of vandalism with abso;lutely no regard for the customer base.The performance of Qantas under Joyce and Clifford has been abysmal for shareholders and poor for customers..How can Joyce preside over a such a disaster and kepp HIS job? He should definitely be the first to go!!!!I also strongly believe that Clifford, and the current Board should all go - get someone in who knows how to run an airline and not trash it!!!!.

Commenter

Longtime Qantas Flyer

Location

Sydney

Date and time

February 27, 2014, 1:04PM

Two things to come out of this

1. Joyce be shown the door

2. I will be flying Virgin for the next few months so i am not inconveinienced when the unions pull a surprise snap strike.

Commenter

KO

Location

Canberra

Date and time

February 27, 2014, 1:03PM

Actually the parallel with the motor industry is worth looking at.Australians stopped buying predominately locally made cars because they wanted something cheaper or different, so the industry collapsed.Australians have stopped flying predominately Qantas, because they could get cheaper and different options from overseas owned airlines.We cannot afford to prop up a non-competitive airline in the world's over crowded skies.Change the culture and cost base, or perish.

Commenter

Max

Location

Stafford Heights

Date and time

February 27, 2014, 1:03PM

The domestic leg was actualy profitable and most of the loss is due to the six year Jetstar Asia venture/failure.I believe it's time Liberals accept all businesses are not equal and a national airline is worth preserving even at a modest loss, but foolish business decisions like Jetstar Asia need to end. Simplify. Making cars was also like that, a rare global feature gone now only 12 countries will make cars.Keep Qantas as a modest asset and get back to basics with domestic and international flights without the multi branding charade you end up paying for.

Commenter

Andrew

Location

Geraldton

Date and time

February 27, 2014, 12:59PM

Maybe Joyce should take a good hard look at why no one is flying them. As an Australian expat in Singapore, I know countless of Australians living here that refuse to fly Qantas when going home to visit. The on board service is woeful. We'd all prefer to pay 200-300 more and fly Singapore Airlines. At least you are guaranteed good service. It's really not rocket science. Give good service and people will fly you

Commenter

Mike

Date and time

February 27, 2014, 12:56PM

One presumes that not only will AJ not go, he will also collect some obscene bonus for guiding Qantas to this disastrous result.

Commenter

Kevin

Location

various locations

Date and time

February 27, 2014, 12:52PM

There seems to be a lack of vision amongst management. Big pay for sacking workers/cutting costs isn't necessary. That is the easy, low hanging fruit. Dozens could perform that role as CEO.

Commenter

Olaf

Date and time

February 27, 2014, 12:50PM

Qantas needs the CEO of regional Express! They seem capable of turning a profit.

Commenter

Peter

Location

Lane Cove

Date and time

February 27, 2014, 12:48PM

Agree with conspiracy theorists, wasn't it not so long ago that QANTAS was accused/found out for shifting financial data between Q and Jetstar to make one of them look more viable in the market, could this have happened here again?

Commenter

Blowie

Location

Kiama

Date and time

February 27, 2014, 12:47PM

More interested in upcoming event in Sydney this weekend than saving Qantas. Time for Joyce and Board to go.

Commenter

Mik Sheedy

Location

Sdney NSW

Date and time

February 27, 2014, 12:41PM

So Bill Short-on truth wants Qantas to remain 'Australian' - Wasn't the top priority from Qantas being foreign owned?Of course, prevents Australian crews being replaced by cheaper overseas staff and the airline becoming profitable. Looking after your union mates again then Bill?

Commenter

BTR

Location

Date and time

February 27, 2014, 12:40PM

They are going to stop flying Perth to Singapore! Oh well, I will not switch to Jetstar to fly to Medan. Either SQ or MH as a full service airline.

Commenter

Trevor

Location

Date and time

February 27, 2014, 12:39PM

Alan Joyce has done what he was hired to do and that is nose dive Qantas into the turf.

Commenter

Bubb

Location

Date and time

February 27, 2014, 12:36PM

And of course Joyce will be leading by example & taking a 50% pay cut. Oh, no, wait... that's right due to the alternate universe corportate types live in he'll now be rewarded for sacking 5,000 by receiving a generous rise and a performance bonus for his cost saving measures.Shame, shame, shame.

Commenter

Rex

Location

Turramurra

Date and time

February 27, 2014, 12:36PM

The Jetstar-isation of Qantas is now nearly complete. QF demands full service prices then provides Jetstar LCC services. Pax not caught in the QF Club/FF Web fled in droves to Virgin. I've just bought my first Tiger tickets. Oh the joy of a race to the bottom. See ya QF!

Commenter

Wabster

Location

Hurstville

Date and time

February 27, 2014, 12:34PM

Why doesnt Quantas do a big restructure? Then everyone has to reapply for new roles and reduce the salaries at the higher level by 30% and the lower levels 10-20%. Joyce who earns $5million a year could take an even bigger cut and earn say $300,000 for his role. Pilots who earn over $500,000. Could be paid something more sustainable like Virgin Pilots who earn $90,000 a year.

Commenter

Peter

Location

Lane Cove

Date and time

February 27, 2014, 12:34PM

Memo to Qantas board. Move a motion to make Borghetti an offer he can't refuse (like should have happened when Dickson stepped down) and watch what happens when vision meets will. Then commission a review of your own performance.

Commenter

Former Qantas Club member

Location

Melbourne

Date and time

February 27, 2014, 12:34PM

I blame Abbott. Must be his fault for not handing out more money to unsustainable and poorly managed iconic brands.

Commenter

Llama Farma

Date and time

February 27, 2014, 12:32PM

Alan Joyce, you have sat here too long for any good you are doing. Depart, I say, and let us have done with you. In the name of God, go!

Commenter

Leo Amery

Location

Date and time

February 27, 2014, 12:31PM

There is and has been only one problem with Qantas and that is Alan Joyce.

He should be sacked immediately, with no redundancy and banned from ever entering Australia again or working for any Australian Company.

Commenter

Herbert

Location

Date and time

February 27, 2014, 12:31PM

bought 1250 BCI @$4.93 cumDiv

Commenter

Learner

Location

Melbourne

Date and time

February 27, 2014, 12:31PM

Note to Australian Media:

Qantas has NOT announced the loss of 5000 jobs, they are 5000 'equivalent full time' jobs. This is 5000 x 40hr a week hours worth of jobs. For example, two part timers working 20hrs per week = one equivalent full time. In this instance, two people would lose their job, not one.

Instead of 5000 people losing their jobs, the real number could be closer 6000-7000 people set to lose their jobs.

Commenter

Darren

Date and time

February 27, 2014, 12:29PM

Air New Zealand has just announced a 40% increase in profit from a already reasonable past profit. They seem to saying that all the things that Joyce has said been against QANTAS have been good for them this year. They live in the same area of the world as QANTAS. Maybe they have made better discisions. Hope Media pick up on this.

Commenter

purple penguin

Location

Date and time

February 27, 2014, 12:27PM

Why not get rid of Alan Joyce????Till he arrived Qantas was a healthy business. Of course, he is conducting a report from one of Sydney's top hotels!!!He has no idea!!!!!

Commenter

flabbergasted

Location

Ryde

Date and time

February 27, 2014, 12:24PM

Why don't farmers plan for drought. It happens every 5 years. Build some dams on your property during the good years. It's not rocket science. No more handouts for farmers. They have cost the taxpayer hundreds times more than Holden

Commenter

The Goose

Location

Date and time

February 27, 2014, 12:23PM

Why not get rid of Alan Joyce????Till he arrived Qantas was a healthy business. Of course, he is conducting a report from one of Sydney's top hotels!!!He has no idea!!!!!

Commenter

flabbergasted

Location

Ryde

Date and time

February 27, 2014, 12:22PM

First and top priority is get rid of Alan Joyce, ever since he was appointed CEO all he's done is cut jobs, have lavish parties, change the uniforms and TV appearances, lets not loose a great Australian airline. Bring back Ansett

Commenter

Wolf of Ansett

Location

Date and time

February 27, 2014, 12:21PM

Rubbish company. Always paying out Executive bonuses. Let it die.

Commenter

Tony

Location

Date and time

February 27, 2014, 12:21PM

I know of an Aussie schools tour to the UK last year plus around 30 parents following,,,, who flew Qantas,,,, no one ! Why,,,,, flights too bloody dear !

Commenter

miciam

Location

Date and time

February 27, 2014, 12:20PM

How about stopping all the fringe benefits for staff and ex-staff? The huge discounts for their flights is an outrage, especially those for ex-staff, who choose to fly only first or business class as they pay so little for their tickets. Think of how many freebies this amounts to given the number of Qantas staff and ex-staff. I am sick of subsidising their so-called entitlements.

Commenter

missylou

Location

Date and time

February 27, 2014, 12:14PM

Today’s results reflect around ten or more years of ill-conceived decisions at Qantas. Qantas has romanticized with the big fours (744/A380) and left a huge hole in the fleet line up with the absence of 777s (there is still a hole in A350/777x orders). The 777 would have been the best sized and most cost effective aircraft for an end of the line carrier like Qantas. Joyce has complained about the high cost base, while again delaying delivery of more efficient aircraft (787), ordered with the intention of lowering operating costs and improving customer value. High cost and aged 747’s are still flying around. The saddest part of Mr Joyce’s tenure and earlier is that there has been little focus on generating revenue. In flight product has not been at Qantas’ centre. From Economy through to First the Qantas A380 was rolled out later than SQ and EK and at a lower standard. Surely ridding the aviation industry of Marc Newson is well overdue.

Commenter

Dubya

Location

Date and time

February 27, 2014, 12:13PM

He trots out the same old stories from the same ol' songbook. Hard decisions, survival, blather blather

He'll be saying that when he's the five magabucks CEO of only one employee. What a joke.

Fly Virgin, don't drive Ford, Holden , don't eat Cadbury, SPC ...

I'm sick of paying tax for this ...

Commenter

Arthur McKenzie

Location

Canberra

Date and time

February 27, 2014, 12:10PM

Get rid of the biggest financial, physical and emotional cost to Qantas... Alan Joyce!! It's time to start afresh... New management, new plan, fresh ideas and, what was, an awesome airline...

Commenter

Nate

Date and time

February 27, 2014, 12:04PM

We keep commenting that wages are too high, however this is a direct result of cost of living especially housing. Perhaps the Banks would like to take a hair cut to enable lower wages, after all anyone with a morgage pretty much works for a Bank.

Commenter

IDJUNGLE

Location

Date and time

February 27, 2014, 12:03PM

It is always the case that employees will suffer because of bad business decisions, and it will always be like that. To what extend management wish to admit their mistakes is how companies differ. Qantas has come out swinging it seems and to that end it does not make them look good and data presented to support their claims is rather thin.Why we don't we let Qantas die and let another airline come up in its place I will never know. We have done this with the car industry we can do it here surely.

Commenter

stever

Location

earlywood

Date and time

February 27, 2014, 12:01PM

This result supports an old dictum (somewhat amended): How do you get Alan Joyce to run a small airline? Give him a big one and wait!!!

Commenter

explatinum

Location

Date and time

February 27, 2014, 12:01PM

Maybe QANTAS management should throw less parties for celebrities and themselves, like the recent one for modern family coming to Australia and other similar ones they have had in the past and stop partying around if they cannot afford it!

Commenter

cls

Location

Sydney

Date and time

February 27, 2014, 11:59AM

I think It is high time that Joyce should go. His antics and shenanigans have to be stopped now. Hard to believe that the world's safest airline is driven to its present malaise state.

Commenter

Disappointing FF

Location

Melbourne

Date and time

February 27, 2014, 11:58AM

Joyce, put your self at the head of the departure queue along with your cronies, you do not deserve to run an airline with your lousy strategies.

Commenter

Curly

Location

Sydney

Date and time

February 27, 2014, 11:56AM

Agreed he should have dumped these staff and cut wages 5 yrs ago

Commenter

OSHA

Location

Date and time

February 27, 2014, 12:14PM

How do you create an average airline company? Start with a good one and give it to Alan Joyce. I bet he'll have his hand out when the venture capitalists start circling.

Commenter

Andre

Location

Sydney

Date and time

February 27, 2014, 11:55AM

I hope the first job to go is Joyce's. Then they can cut all the Executive salaries. That should give them a few million more in the bank.

What I would like to know is A Joyce going to take a pay cut. This happened under his watch he was the one that shut qantas down for a week or more ...Qantas was a Queensland Airline and I think the Goverment should not give them any moneys at all...They should buy back 51% of the airline and get rid of Joyce...WE have lost A.N.A & T.A.A ..So if they sell out we will have no airlines in Australia they will be gone along with Holden & Ford Toyota .etc

Commenter

Raybundy

Location

qld

Date and time

February 27, 2014, 11:53AM

In his little speech today, he (Alan Joyce) forgot to mention that he should be sacked. He's an idiot. Wasting money on new uniforms, interior fit outs to planes he's about to take out of service. I could do a better job running the airline. (Not that better would be hard compared to his useless attempts).

Commenter

john

Location

Sydney

Date and time

February 27, 2014, 11:50AM

Yes john, I believe anyone would be a better CEO than Joyce...

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 1:12PM

So Alan Joyce is to sack workers by blaming the unions for all the bad business decisions that he and his board made. Does anyone else see the flaw in this logic? The buck stops with management. Alan Joyce and his millions of bucks should go.

Commenter

befuddled

Location

Date and time

February 27, 2014, 11:49AM

The buck stops with a culture of poor performance and lack of pride from ALL employees. Every single employee should ask themselves what did i do recently to contribute to the situation Qantas now sees itself in.

Commenter

adrram

Location

sydney

Date and time

February 27, 2014, 12:17PM

Typical Corporate Man - Blame everybody except your self > Joyce is a dud !Why is he still giving seats to staff and ex staff at 90% discount ?And why do us loyal frequent flyers get stuffed down the back while Pilots and Flight attendants fly Biz class ?How about you start looking after your Loyal customers ?

Commenter

John

Location

Sydney

Date and time

February 27, 2014, 11:48AM

John, qantas staff get 90% off, but 90% of the time they don't get on when using their so called "previlige" benefits. But yes, AJ has to go and his board. Most are EX management now with Qantas. Wrong move....

Commenter

Joe

Date and time

February 27, 2014, 12:33PM

Time to go Mr Joyce ... you have stuffed up my airline which I have flown no matter what cost because it is my airline and it has a marvelous safety record. Mismanagement personified! Remember QF32 (safety) and the 31 Oct 2011 shutdown (bad management)?

Mr Abbott it time for an even playing field for QF against airlines owned by governments like Singapore and as tourist conduits.

Tim for new more efficient/comfortable planes. Not for JQ but for QF. It won't be long before QF leaves our skies to be owned by SQ or EK.

It is time for up to date management of QF. Mr Joyce and the board have to go. Time to catch up with the world!!!

Commenter

Carlton Phil

Location

Malaysia

Date and time

February 27, 2014, 11:46AM

This turned to be a Qantas blog today! Is't there any other company activity to report?

He should just come clean! The Joyce plan was to ditch Qantas nationally and keep it for international services only, therefore ensuring a young fleet and staff at Jetstar could compete with Virgin.Only 6 months ago he finished retrofitting the old aircraft, now he is scrapping them...this guy needs to go!

Commenter

Trento

Location

Melbourne

Date and time

February 27, 2014, 11:33AM

They should start at the top by removing the person who got them to thissad and sorry state! Shame on you Alan Joyce

Commenter

Jasper

Location

Date and time

February 27, 2014, 11:33AM

The ideal parting package for AJ and only component should be a one way ticket to the furthest Qantas destination.

Disclaimer: Although I'm not a shareholder in Qantas, without an axe to grind I'm impartial in stating AJ should face the axe.

Commenter

nolongerconfused

Location

Date and time

February 27, 2014, 12:56PM

So why is he cutting unprofitable routes now? Shouldn't Joyce have done this ages ago?.

Lots of people in these comments pages are aware of the yield management/demand management techniques the airline uses and that Qantas was one of the best in the world at it. They would have known what the problem was some time ago.....

This really does look rigged to me and very dishonest to drive the share price down for whatever reason, run at a loss for whatever reason, get rid of skilled and reliable staff for dubious reasons, and then say you will do what any idiot at the airline who had been around for a fair chunk of time would have done - cut the problem routes.

Qantas had a program of reinvestment in planes so what happened to that?

The most important cut that Qantas needs to make is Joyce. They need to spill the board and get new board members too.

I am pretty happy to predict that Abbott will be a one term government for sure now, as Australians expect to have a national carrier and they can't see how we are all going to benefit from jobs going overseas in one big hit.

You can't tax the people overseas, they can't contribute to ourr economy in any real way and this means that we will have more job insecurity and more and more people will be wondering why invest in good qualifications and an organisation.

This is dangerous territory for business people who don't seem to understand that business and the social-political are linked. This is dangerous territory for Abbott too.

Most normal people who vote don't sit and watch the share price and they intuitively know that there is a point when outsourcing has gone too far.

Commenter

Innovation Needed

Location

Kew

Date and time

February 27, 2014, 11:33AM

I dont think it's that simple. Joyce is aware that QANTAS is a National Icon as such and a large part of its alure to travlers is its "Australianess". Sacking Aussies and replacing them with foreigners could lose QANTAS its Australian image and lose customer loyalty on which it relies. Tough decision. Give the guy some credit.

Commenter

Ryan

Location

Date and time

February 27, 2014, 12:04PM

Qantas was a great airline until Joyce came along. Would be great to see him included in the 5,000!

Commenter

Alex

Location

Canberra

Date and time

February 27, 2014, 11:31AM

It's not the wage structure that makes the ME carriers competitive - it's the tax structure. Why else are so many European's and non-ME working for the ME carriers.

Commenter

Wages

Location

Date and time

February 27, 2014, 11:30AM

Alan Joyce experience in running a "Low Cost (No Frill)" airline has no value, and is irrelevant, to running a Prestige Airline. Wake up Qantas board or to face Share Holder Revolt!

Commenter

Up and Down is Norm

Location

Date and time

February 27, 2014, 11:28AM

I cringe every time I hear that 'selling' would make the airline more profitable (an insult). If you have the 'wrong' people in the job, REPLACE them! This issue didn't just come about, its yrs of poor management, a small percentage of slack employees and into the mix a dire global trend. Topped off with cleaver accountants.....

Commenter

Aussie

Location

Date and time

February 27, 2014, 11:27AM

If the Australian taxpayer has to bail out Qantas they must not send any Australian jobs overseas. That would be immoral and the Federal Government must stipulate this before any help is given.

Commenter

oldie

Location

Lutwyche

Date and time

February 27, 2014, 11:27AM

I agree totally with you Red, Australians won’t buy anything made/based here because it costs 20c or 2 dollar more, but will by anything made oversea because it’s either cheaper, or its foreign so ‘must’ be better quality (this is definitely not always the case), yet squeal like stick pigs when it’s their job in the firing line. We have made a rod for our backs with this free-trade, open sky’s, foreign investment at any cost mantra, and now this stupid country is paying the price. PS, I fly QANTAS most times and have had no real issues with them, and shock horror, enjoy the service they give to myself and my family.

Commenter

Martin

Location

Vic

Date and time

February 27, 2014, 11:26AM

So AJ and the gang are only just realising that Asia is a highly competitive market? Come on you can't be serious. Everyone was scratching their heads, and saying bad move, when the japan operations was announced. I can't say that AJ and the Board have got Qantas strategically wrong, when like many, we suspect that the strategy IS to run Qantas into the ground.

Commenter

Asia

Location

Date and time

February 27, 2014, 11:25AM

Alan Joyce = Accountability for this mess, why hasn't he been sacked or resigned....disgraceful.

Commenter

Trento

Location

Melbourne

Date and time

February 27, 2014, 11:25AM

I sat and watched a new 787 dreamliner being tow-out yesterday in Syd. I wondered why is this plane in the Jetstar colours and not the Qantas. Nice to see before sepping onboard an ancient 767 bound for Melbourne. So Qantas dropping new fleet orders, and flying the Ark's, then complaining about operating costs to then retire decide to retire the Arks's - is not a sign of an Exec that knows what and where they are going. BTW hwere are the replacement planes going to come from in such a short space of time - leasing other less modern planes? Hmmmm

Commenter

dreaming dreamliner

Location

Date and time

February 27, 2014, 11:20AM

at lest houses will get a lot cheaper.

Commenter

not sure

Location

Date and time

February 27, 2014, 11:17AM

No, the Australia public is not responsible for not supporting Qantas but go for cheaper airfares. I'm not comparing Qantas to another dodgy airline like Tiger. I am going to London next month. Qantas business is over $10k, $9k if I'm flying Emirates and $7k with Cathay Pacific! Premium economy is over $5k from Qantas and $3.3k flying Cathay Pacific. Emirates doesn't have premium economy. You can't say Emirates and Cathy Pacific are not as good as or in my opinion, far better than Qantas in services and also with newer planes. So my choice is simple, I'm flying with Cathay Pacific.

Commenter

Jade

Location

Date and time

February 27, 2014, 11:12AM

If this is open for business, I would hate to experience the alternative.

Commenter

John

Location

Duffy

Date and time

February 27, 2014, 11:11AM

This is a legacy of poor systemic management, and typical of a company resting on its laurel's because it sees itself as a national iconic brand. The brand is the only value to Qantas and Australia, and Joyce has milked it for all its worth. It's the same rhetoric from AJ. Now he wants propping up by the public because thinks the Qantas is too important to lose. Err, sorry AJ, but you aren't that important. Your public handout strategy is leading the company nowhere.

Commenter

so a Sydney to Melbourne train line...

Location

Date and time

February 27, 2014, 11:10AM

I suggest a few people check out Air NZ's profit reports today - what What do the 2 airlines have in common –

They share the same major cost- airline fuel and costs of running planes and infrastructure They share the same global economic challengesboth airlines biggest international route is the Trans Tasman sector- NZ to Australia

What don’t they have in common

1. Air NZ just announced a $180 million profit2. Air NZ have spent the last 9 years working on building a great corporate culture3. Air NZ have developed innovation – in everything from their sales model to their safety videos and advertising (in fact they have become famous for their safety videos – the latest is done in conjunction with sports illustrated)4. Air NZ strategy has focused on incremental cost cutting, getting economies of scale, finding partnerships that open up new routes, modernising their fleet and having great service, not cutting from the bottom line.

The management lesson

Its all about Culture, innovation and strategy.

Commenter

michelle

Location

sydney

Date and time

February 27, 2014, 11:09AM

Spot on, Air NZ also offer a bid process on empty seats in premium economy and business...they bump you up at a cost you agree to then offload your cheaper seat...Qantas innovation are new uniforms for staff!

Commenter

Trento

Location

Melbourne

Date and time

February 27, 2014, 11:37AM

Nailed it Michelle.

Commenter

Neilo

Location

Sydney

Date and time

February 27, 2014, 12:49PM

You forgot one; generally consistent, good customer and in flight service across the board.

Commenter

G.L. Higginbottom

Location

Perth

Date and time

February 27, 2014, 1:33PM

First Joyce destroys Ansett, now Qantas...maybe he should try another industry.

Commenter

Mike F

Location

Date and time

February 27, 2014, 11:09AM

The government if consistent will give none of our tax money to Qantas Its 100% a PRIVATE company and just like Toyota,Holden and SPC should be left to its own devices to survive the market place.The "national carrier" is just crap if it was so loved by Aussies then why is it going broke considering it still has 65% of the domestic market?

Commenter

Go for it

Location

m

Date and time

February 27, 2014, 11:09AM

Alan Joyce should be number 1 of the 5,000 staff to go. No doubt the Board are ruing the day they appointed him over John Borghetti.

Commenter

GetridofJoyce

Location

Date and time

February 27, 2014, 11:04AM

If Qantas must stay alive it has to be because of government policy. A nation like Australia with its vast distances from one corner to the other needs public transport controlled as a state enterprise. Any civilized nation will nationalize or take control (by government) of its health, education, ports and other infrastructure and its public transport.

We slavishly copy what the Americans do. We have no originality in our decisions which is why we are in the state we are in. Simply chanting "Aussie Aussie Aussie, oi oi io" does not go far enough in paying our bills or building our nation. Australians have to learn to import new ideas and take bold decisions but not of he variety Bob Hawke took in destroying the backbone of the industry to the benefit of his late mate Sir Peter Ables whilst the airline sector went to the wall.

We need a re think of our national priorities. Not for Kidman, Minogue, Lurhman or the athletes. Let them pay their way. The nation does not benefit from them other than to promote the vanity of individuals. How could we subsidize an athlete to the tune of $3.8 million whilst 5000 lose their jobs?

Commenter

Alfred Silva

Location

Brisbane

Date and time

February 27, 2014, 10:57AM

the board should be sacked alan joyce has to go . the govt should buy back 50% of qantas .its our national carrier i dont want it to go to foreign hands . alan joyce wants qantas to fail and end up with jetstar only. all of qantas loss making is because of jetstar and its failed attempt to conquer asia.at great expense to qantas. the board has allowed this to happen. ford has gone holden has gone toyota has gone now qantas what is left nothing we might as well sell australia to china and be done with it .under tony abbott australia is closed for business.

Commenter

rolland

Location

Date and time

February 27, 2014, 10:57AM

This is a legacy of poor systemic management, and typical of a company resting on its laurel's because it sees itself as a national iconic brand. The brand is the only value to Qantas and Australia, and Joyce has milked it for all its worth. It's the same rhetoric from AJ. Now he wants propping up by the public because thinks the Qantas is too important to lose. Err, sorry AJ, but you aren't that important. Your public handout strategy is leading the company nowhere.

Commenter

Blame it on the boggie

Location

Date and time

February 27, 2014, 10:57AM

I've got plenty of land in rural Victoria and want one of the old loss making Qantas 747s at extreme fire sale prices or better still Qantas could pay me to take it off their hands. Then I could play hangar pilots all day, but Alan Joyce wouldn't be welcome.

Commenter

Tomster

Location

Rural Victoria

Date and time

February 27, 2014, 10:55AM

business 101

rule# 1sell for more than cost

If can't do rule #1, then reduce costs. Qantas should have done this long ago.

Commenter

not sure

Location

Date and time

February 27, 2014, 10:55AM

A quarter Billion Dollar Loss.....Gross Mismanagement!!!

Somebody has to pay for a Loss like that....Who does the Buck stop with?

Commenter

General Soreness

Location

Date and time

February 27, 2014, 10:54AM

So tell me, why with $3billion in cash is Qantas still flying pre-historic wrecks around the world. No wonder passengers are flying with other airlines.Emirates now as a code share with Qantas offers absolute top quality in everything they provide, but Qantas I'm afraid to say is pure Australian rubbish.

Commenter

BTR

Location

Date and time

February 27, 2014, 10:54AM

I'd be a tiny bit happier if the job loss number was 5,001

You know who I mean!

Commenter

Lucky Phil

Location

Melbourne

Date and time

February 27, 2014, 10:54AM

Just curious. To date, how much has Joyce "earned" for gutting Qantas? Did he get a Bonus? And what other perks do his astonishing management skills attract?

Commenter

Max Gross

Location

Sapphire Coast

Date and time

February 27, 2014, 10:53AM

Bad Paddy, bad!!

Commenter

Seamus O'Flaherty

Location

Dublin

Date and time

February 27, 2014, 10:48AM

Joyce has to take some of the responsibility for the losses, especially with the Asian fiasco.

But on the whole I think this is the sign of things to come. Most people now simply want the cheapest fare possible and don't seem to care what airline that is with, or where that airline's maintenance and other operational staff are based.

Same thing with everything else in this country. People just want the cheapest thing possible.

In the end that simply means we are competing with places where staff earn much much less than us and it will mean less jobs in Australia.

If we want jobs to stay in this country we need to face the fact that as a nation we need to become much more efficient. We also, as consumers, need to start looking at where we spend our money - that means spending a few dollars more and buying Australian.

That goes for investors as well - if all investors want is profit profit profit at the expense of everything else rather than a modest profit that is sustainable then the same thing will keep happening.

Commenter

Mick

Location

Sydney

Date and time

February 27, 2014, 10:47AM

anyone hear the death knell.....10.45

Commenter

Aparajito

Location

Date and time

February 27, 2014, 10:46AM

Mr Joyce refers to 'the surge in international competition'. Qantas has less competitors than possibly at any other time. Think of Air France, UTA, British Caledonian, AOM, Continental, Air Zimbabwe, Northwest, KLM, Lufthansa, Olympic, Alitalia, Egyptian, Gulf Air, All Nippon, even Aeroflot to name just a few of the carriers who have oulled out of Australia over the last couple of decades. The only really big new entrant has been Emirates and they are the partner of Qantas.

Commenter

Gerko

Location

Date and time

February 27, 2014, 10:46AM

People say we cshould pay extra and buy Australian which I do on most occasions but how Australian is it if they have send all the jobs overseas.

Commenter

Dom

Location

Date and time

February 27, 2014, 10:44AM

Qantas are simply too expensive, other international carriers are much cheaper. Jetstar flight attendants need a course in friendliness, they are without doubt the most impolite in the sky, and their main competitors are in Asia where the flight attendants are especially friendly and accommodating, bad move Jetstar! The fish stinks at the head. Joyce should go, Qantas needs to review its pricing, we no longer have blind allegiance towards them, and Jetstar needs a staff training overhaul

Commenter

Bibgo Bob

Location

Date and time

February 27, 2014, 10:43AM

No Joyce. no government guarantee.

Commenter

polym

Location

Date and time

February 27, 2014, 10:43AM

70 THOUSAND jobs lost now under Abbott and counting!!...One million UNEMPLOYED is looking good Tone!!

Commenter

Steeden

Location

Ballina

Date and time

February 27, 2014, 10:42AM

Does this mean we (Australia) are now Bankrupt!!!!No Industry, Manufacturing, only jobs in Hospitality?I have a radical IDEA. We could start to make clothes here; we would have to get rid of the FREE TRADE (read no jobs Oz) agreement. Tony, there's no one left to pay TAXES.

Commenter

what jobs

Location

Vic.

Date and time

February 27, 2014, 10:42AM

How on earth is Alan Joyce still in charge of this business?

Clearly he is either out of his depth or has engaged in a deliberate strategy to trash the airline for ideological reasons.

Either way, his tenure as CEO has been tremendously damaging to Qantas and it beggars belief that he is still pulling the strings.

Commenter

J B Hanley

Location

Pyrmont

Date and time

February 27, 2014, 10:38AM

I don't see much mention of the Millions lost in leases for aircraft parked on the ground in Asia in failed attempts to muscle in on Asian domestic airspace. No responsibility taken by Alan and his cronies for that massive failure and waste of money.A proper restructure would involve the CEO and Chairman standing aside to let someone with the airlines best interests take charge and concentrate on the core business of running an airline.

Commenter

DixonVictim07

Location

Date and time

February 27, 2014, 10:37AM

Is Ironic that we are jumping up and down about job cuts. A business needs to do what it needs to do to be profitable. Would the other 28k or so staff keeping their jobs be annoyed if the whole joint went up in a cloud of smoke? Id say the majority of Qantas staff will see this as a good option to keep themselves in the work force. Everyone needs to get a grip, this is business and money is the only thing that keeps it a float

Commenter

Giblets

Location

Melbourne

Date and time

February 27, 2014, 10:30AM

Well, this is well ahead in the roadmap ahead for Hockey & Abbotts plan for Australian business... Compete on the lowest common denominator, COST. Guess what guys, No one wins in a race to the bottom of the cost bucket. there are only degrees of losers unless that is how you are incented. We cannot compete with china and co... until their wages finally rise closer to our levels (and they are growing).

Australia needs to take a leaf out germany's books on growth and productivity, luckily Joe hockey most of this literature is in german which Australians cannot read.

But it is about Productivity and Innovation and pragmatic approaches to skilled workforce, Productivity , Investment in Research and development, Quality of product aimed at the right market, Quality of life.. they have strong Primary, secondary and tertiary industry.. And guess what they sell product , make money and value their workers...

However this takes an Ideological challenge for Australian politicians because we only think boom or bust... Bi-Polar Politics and Economics...

Perhaps Brandis can get a book for his library on german economics and brief his tea party colleagues on the principles of mittlestanden.wikipedia.org/wiki/Mittelstand‎

And as for the executives, they will behave this way to line their pockets because it is the easiest route for them to ra bucket of gold.. they can afford to live in a tax free luxury haven for the rest their lives while Australia finds itself without Real industry or Transport, so once wages rise in other countries (and they will) they will be well ahead of us and we will have nothing and they will have a complete economy, then it is our turn to be 3rd world.

lets vote for Productivity and Growth. Not cost reduction at the next poll

Commenter

Traveller, Citizen Voter

Location

Date and time

February 27, 2014, 10:30AM

Just over a year ago, they spent $100 million on a share buy back.Why? To appease their Macquarie bankers with fat fees and dig for themselves a deeper financial hole for which they want the taxpayer to pay for.

Commenter

SYD

Date and time

February 27, 2014, 10:25AM

The multi-national company I work for has not made consistent profits for 7 years.

In that time there have been few, and for some no, pay rises. The business cannot afford it.

My choice is simple.... stay or go. If there was a way to demand a pay rise it is probable the business would fail.

For the unions fighting for every job might mean no pay rises making concessions on conditions.

There have been management mistakes at Qantas but pretending we are in the glory days of the past - by management or staff - will not keep the company afloat.

Commenter

Pull together or move on

Location

Date and time

February 27, 2014, 10:25AM

The Australian public must take some responsibility for this.

By focussing on cheap fares, rather than good value ones, we have made it difficult for Qantas to stay profitable.

While Qantas charge $109 to fly to Melbourne, people choose Tiger at $59 "because it's cheaper." Yes it's cheaper but it's not good value when the result is that Qantas falls apart and 5000 people lose their jobs. Never mind that the $109 is already less than a taxi from Wynyard to Penrith in the first place...

Stop using low price as your main criteria for buying goods and services, Australia. Whether it's Bonds, Holden, or Toyota, start being happy to pay reasonable prices to preserve local industry and employment.

Red, you might have enough disposable income at your fingertips that $50 a person isn't a big deal when flying, but for the majority of us that is not an option. When I have to fly over east from Perth for business (ie, not of my own choosing) the fares can be up to $800 for a last minute return flight from Brisbane on Qantas. Call me crazy, but I think I could get much cheaper elsewhere that doesn't hurt me or my company financially.

I will admit that I do the same when travelling overseas for vacations, but that means more money for me at the end to enjoy myself.

If you're going to blame us and say it's our fault for balancing our own budget (something Joyce can't seem to get a grip on or something you don't seem to have) then maybe lay the blame on why we need to have a budget in the first place. Sky high rents and other cost of living factors combined with stagnant incomes make it really hard to travel and if we can afford it by flying a LCC, you can guess what we are going to do. If full price airlines like Singapore Airlines can be profitable with their national LCC's (Scoot and Tiger) simultaneously running, why can't Qantas? There is more to it here than it being our fault and I think Joyce needs to ask some questions about how Qantas has gone downhill so quickly.

Commenter

AussieA

Location

Date and time

February 27, 2014, 10:45AM

The problem with your statement is Qantas generally don't provide 'value'. Value isn't price but that additional services which makes it worth paying the extra money.

I just booked flights to Vietnam for less than half the price of Qantas' quote.

For that I get an exit row, 20KG of baggage and 2 meals. I find the staff on AAX much nicer than Qantas staff too.

Not to mention the AAX flights are at my preferred time - over night so I can sleep.

So what am I paying an extra $750 with Qantas for 'value'? Entertainment and drinks. I'll bring my own latop and buy a drink when I want it thanks.

Commenter

Peter for PM

Location

Date and time

February 27, 2014, 10:46AM

No, you are wrong. Qantas is seriously overpriced and I'm not comparing their prices to a dodgy airline. I'm going next month to London. My quote from Qantas on business is over $10k, $9k from Emirates and $7k from Cathay Pacific. Guess who I will be flying with? Premium economy is over $5k from Qantas and $3.3K from Cathay. Supporting my national airline with $3k in fare difference but getting much better services and newer planes from Cathay. I don't think is on!

Commenter

Jade

Location

Date and time

February 27, 2014, 10:58AM

Not sure when you last flew Qantas international, but it's without doubt the WORST value airline in the world. A toasted sandwich as a business class dinner - rubbish!!!

Commenter

BTR

Location

Date and time

February 27, 2014, 11:04AM

This comment is hilarious ... It's the Australian public's fault for not buying Qantas? As both a regular International and Domestic flyer the issue is simple. Qantas is not competitive. Why, as a consumer, would I pay more for Qantas when I can get the same thing cheaper elsewhere? Its always sad when people loose their jobs but the simple fact is that Qantas, Holden and Toyota have become unprofitable. Simple. Australia remains one of the most expensive places to live day to day so why wouldn't consumers look for a good deal. Australians need to realise that they are part of a large global economy and they need to be competitive, particularly within industries that rely on foreign customers or that export goods to foreign countries. I've seen a lot of comments about this but blaming consumers is one of the more ridiculous.

Commenter

mark33

Location

Melbourne

Date and time

February 27, 2014, 11:16AM

Its the Qantas employees through a culture of poor performance and lack of pride in working for a great australian company is the reason the travelling public dont want to fly with them.

Commenter

adrram

Location

sydney

Date and time

February 27, 2014, 11:20AM

That's OK Red if you have money to burn, unfortunately for most out there, affordability is a key driver when it comes to purchasing goods and services. Why is so much cheaper to use Tiger? Both journeys require roughly the same number of staff, the same amount of fuel etc. Service is maybe the differential, but Qantas has been charging premium prices for years whilst the service has been going downhill

Commenter

Sermo

Location

Date and time

February 27, 2014, 11:36AM

Another 5000 for Abbotts GREEN ARMY.

Commenter

oldfella67

Location

Date and time

February 27, 2014, 10:23AM

thanks a lot Labor & the unions !!!

Commenter

not sure

Location

Date and time

February 27, 2014, 10:48AM

SACK JOYCE!

Commenter

The Visionless Quarter

Location

Date and time

February 27, 2014, 10:23AM

Sack Joyce, should have been done a long time ago, and Qantas wouldn't be in the position it is in today.

Commenter

patsy

Location

Southern Highlands

Date and time

February 27, 2014, 11:03AM

If they made the right operational & finance decisions years ago (ie; planes & routes), kept Borghetti looked after their staff, and created a great culture to work in, then I would suggest they wouldn't be announcing a lost today, rather a profit. Reference - Air NZ!!

Commenter

Concerned

Location

Date and time

February 27, 2014, 10:20AM

Borgetti's virgin is also bleeding red and are backed by foreign governments. You have no idea what you are talking about. This is about greedy unions strangling companies

Commenter

reader

Location

Melb

Date and time

February 27, 2014, 10:58AM

A few years back the ACCC did not let Qantas and Air New Zealand get into bed together. Air NZ has just announced a big profit. Maybe we should hold the ACCC responsible for preventing Qantas to make strategic alliances with key partners.

Commenter

Next Mini Ice Age

Location

Brisbane

Date and time

February 27, 2014, 10:19AM

Too many politicians interfering in the operation of a private business . Either they are private or they are public but they can't be both else this is the result

Commenter

Dan

Location

Date and time

February 27, 2014, 11:28AM

It wasn't long ago that Qantas spent millions of $ refurbishing their old gas gussling 747 / 767 aircraft and now they're retiring them. Another great decision by an inept senior management team and board.

Where will the Ipads go?

Commenter

TR

Location

Melbourne

Date and time

February 27, 2014, 10:16AM

Alan Joyce has systematically destroyed Qantas, so why is he still CEO? Or for that matter the entire board? Answer is that the board has been cleverly stacked by Geoff Dixon, previous CEO who delivered Joyce to run Jetstar rather than concentrate on Qantas. That board is still making money whilst they are responsible for the Qantas loss of jobs today. THEY SHOULD ALL BE REPLACED!

Commenter

Patricia

Location

Date and time

February 27, 2014, 10:15AM

So let me get this right. Labor want Qantas to remain an Australian airline so they will block the repeal of the Sale Act thus starving Qantas of the ability to access foreign capital and potentially killing off the airline altogether. Nice one.

Tell me, what sort of dim witted logic demands that Qantas make it on its own without Government intervention yet maintain the shackles of legislation that restrict it from doing that very thing?

Just give them the damned debt guarantee. It's only a guarantee, taxpayer pays nothing unless Qantas fails to meet its obligations, which would be unlikely.

Commenter

Oxen

Location

Sydney

Date and time

February 27, 2014, 10:46AM

Apologies, I don't know why that posted under your comment.

Commenter

Oxen

Location

Sydney

Date and time

February 27, 2014, 11:51AM

Allan Joyce and his board of directors must resign, QANTAS has crashed with Joyce at the controls, controlled flight into terrain. what a balls up. how many bad decisions has he made? Air New Zealand, majority goverment owned is making profits accross the waters. Air New Zealand has a fresh feel to their aircraft. Qantas under Joyce is tired. he has no idea about running an airline. he blames everything else but as CEO its his fault and he must resign. there are far better CEO's about that can get Qantas back up and flyig without selling it to the Arabs

Commenter

Bruce

Location

Date and time

February 27, 2014, 10:14AM

Sounds like 1 of the 5000 jobs to go should be the guy overseeing this whole mess.

Commenter

RayJ

Location

Date and time

February 27, 2014, 10:13AM

australia has new management and is open for business.

Commenter

harry

Location

melbourne

Date and time

February 27, 2014, 10:13AM

Looks like I'm still flying to Chile in July. :)

Commenter

Dave

Location

Brisvegas

Date and time

February 27, 2014, 10:13AM

If Qantas want the tax payer to pitch in, it must retire Alan Joyce, and the board must go.The tax payer should not reward their failure by letting them stay on.

Commenter

Frank Ernest

Location

Sydney

Date and time

February 27, 2014, 10:12AM

Mr JoycePlease explain how your company returns such a massive loss when 12 months before returns a profit? There is SOMETHING wrong!Please explain

Commenter

Frequent Flyer

Location

Date and time

February 27, 2014, 10:11AM

How can Joyce justify his salary, why do the investors allow it to go on, they receive no dividends and yet this clown gets bonuses, what is his wage based on, the more the company goes to rack and ruin the more he gets. Sorry but no, you can't sack all these workers and not question management and their salaries

Commenter

lost2

Location

Date and time

February 27, 2014, 10:10AM

51% of those shares are owned already by Australians correct? How does letting someone overseas buy them on the market give The biggest shareholders are JP Morgan and HSBC (both AU sides), then the Australian big 4 banks.

So where is the extra money coming from to go into Qantas pockets by lifting the cap?

Commenter

Rick

Location

Sydney

Date and time

February 27, 2014, 10:08AM

Ah- Qantas issues NEW stock to investors without the limitation of 51% of them having to be Australian.

Overseas investors could bring billions into Qantas as they better leverage their investment than local investors could.

Commenter

Robert

Location

Brisbane

Date and time

February 27, 2014, 12:17PM

The Government must not under any circumstances contemplate any form of public assistance for Qantas. It is a public listed company that has for years been grossly mismanaged. The only way out of this mess is for the MD and Chairman to resign immediately. It is no good continually blaming others for your incompetence. The pity is that under this regime many individuals will be badly hurt and more fast diminishing Australian skills we be lost offshore. At the rate we are going we will have no skills at all.New Management is sorely needed and the first thing they do is provide services for passengers to go where they want when they want, a la overseas airlines. Above all stop this absolute stupidity of forcing so many passengers to transit through the crowded outdated Sydney airport

Commenter

itsingers

Location

melbourne

Date and time

February 27, 2014, 10:07AM

Use your Qantas points while you still can.

Commenter

Bam Bam

Location

Bedrock

Date and time

February 27, 2014, 10:07AM

I can’t see where the Board has addressed their failed business strategy in Asia with JetStar, which has sucked up vast amounts of money for no return. Where is the Board and Management accountability for this HUGE stuff-up? Qantas cost cutting is only part of the answer (this has been on-going for years). JetStar cost cutting is also required. JetStar has planes sitting idly on the ground racking up leasing costs. The Australian taxpayer should not be providing any assistance while Joyce and the current Board are still in control.

Commenter

Kiwiradar

Location

Sydney

Date and time

February 27, 2014, 10:07AM

joyce has destroyed qantas. tony is destroying australia. 5000 job cuts is just an example of what tony means by getting rid of red tape. the right luvvies will all be out today blaming unions with the carbon tax following a close second

Commenter

harry

Location

melbourne

Date and time

February 27, 2014, 10:05AM

joyce is only there for the big dollar,then hes gone,like all before,when I worked for Qantas there where to many chiefs,and there still is,it was a good job back in the 80s but has gone down hill since,to many idiots running the show,virgin will take over in the next few years,good bye Qantas.

Commenter

hohepa

Location

Date and time

February 27, 2014, 10:04AM

Vertical market integration has always been the shortfall and short sightedness in Australian industries..... iron ore, uranium, you name it...... so the same has happened in the aviation industry. The airports have been SOLD off while the airlines have been retained.

Commenter

Adam

Location

Sydney

Date and time

February 27, 2014, 10:03AM

Sack 5000 so its easier to replace them when you move O/S.

Commenter

Bazza

Location

Date and time

February 27, 2014, 10:03AM

Note to Tony. Don't stop the boats, we might need them to take our holidays as no one will be able to afford to fly - and that's if there are any airlines left servicing Oz.

Commenter

pcd

Location

melb

Date and time

February 27, 2014, 10:02AM

the whole board an executive team couldn't run a sausage sizzle!!!!

Commenter

fred

Location

newtown

Date and time

February 27, 2014, 10:01AM

10 am and still QANTAS hasn't bothered to notify employees about their futures! This is typical of the arrogant disregard this management for their staff.

Commenter

Mungy

Location

Melbourne

Date and time

February 27, 2014, 10:00AM

Job losses to occur over 3 years. Looks like death by a thousand cuts.

Commenter

Mark Tomarket

Location

Date and time

February 27, 2014, 10:45AM

I agree with the majority of sentiment on he. The Qantas management must go, they have been in the job long enough and have to accept responsibility for the state of the airline, The unions have also to accept that insisting on uncompetitive practices will only harm their workers in the long term..Such short term thinking of the unions has to be stopped.Finally a big lesson needs to be taken from the Ansett collapse. Ansett were flying old planes which cost much more to operate maintain, they failed to invest in their fleet. As a shareholder i am again disappointed that like in so many previous announcements Qantas has delayed or canceled its orders. This in my opinion will be the death of Qantas

Anyone want my shares....

Commenter

chipp

Location

Date and time

February 27, 2014, 10:00AM

If this Qantas mob(CEOs and board members) had not taken Qantas into Asia(where they are loosing money) they would not be in the mess they are in now.

They need to sell the Asian side of things.

Why should Australian taxpayers be made to pay for their incompetence, and their bad business decisions, and support overseas investors, while they cut jobs in Australia.

It would be much easier and cheaper for the gov to buy Qantas back rather than all this wheeling and dealing as theyy opinion.

Commenter

Gertie

Location

Date and time

February 27, 2014, 10:00AM

Mr. Alan Joyce, let the Airline Industry, Qantas, its Shareholders and Customers have some "JOY", Please Resign, so that we the Shareholders and customers can Rejoyce !

Commenter

Ranga

Location

Date and time

February 27, 2014, 9:59AM

"Qantas will axe 5000 jobs"

Housing boom!!!

Allan, c'mon. Is it too early to wake up?

Commenter

Gordon Gekko

Location

NY

Date and time

February 27, 2014, 9:58AM

Any predictions on Qantas share price today?

Commenter

confused

Location

syd

Date and time

February 27, 2014, 9:58AM

The only thing at Qantas that needs to go is Alan Joyce.

Commenter

Mike

Location

Date and time

February 27, 2014, 9:58AM

That makes 7000 jobs LOST since Abbott got in....Why is the LIEbral party sitting back and letting this fool ruin our country..Someone in the LIEbral party needs to show some guts and tap him on the shoulder before its too late!!

Commenter

Steeden

Location

Ballina

Date and time

February 27, 2014, 9:57AM

I agree with the majority of sentiment on he. The Qantas management must go, they have been in the job long enough and have to accept responsibility for the state of the airline, The unions have also to accept that insisting on uncompetitive practices will only harm their workers in the long term..Such short term thinking of the unions has to be stopped.Finally a big lesson needs to be taken from the Ansett collapse. Ansett were flying old planes which cost much more to operate maintain, they failed to invest in their fleet. As a shareholder i am again disappointed that like in so many previous announcements Qantas has delayed or canceled its orders. This in my opinion will be the death of Qantas

Anyone want my shares....

Commenter

chipp

Location

Date and time

February 27, 2014, 9:57AM

Hang on.

Alan Joyce is happy to accept a $1mil pay rise in September, spends how much on ugly new uniforms in December, flies out entire television cast & crews first class (with 'cute' matching t-shirts & pillows to boot), but feels the need to sack 5000 staff.

Awesome.

Commenter

Ess Mick

Location

Date and time

February 27, 2014, 9:55AM

The airline industry is a dog, it has been for a long time and it always will be unless companies can move to the lowest cost position and get some scale synergies, as per Jetstar.

Commenter

Gusman

Location

Date and time

February 27, 2014, 9:53AM

Jetstar is a dud that I refuse to fly again. Their planes are dirty and the staff sullen. As Xenephon has demonstrated Jetstar Asia is the greatest dud of all and is draining money from the parent company with massive cost shifting moving Jetstar costs onto Qantas. The first synergies should be the removal of Joyce and Clifford. They have led Qantas down a hole and now announced the sacking of 15% of their workforce. When will their heads roll?

Commenter

Rick

Location

Sydney

Date and time

February 27, 2014, 10:12AM

by 20 years time, the only airlines flying would be the middle eastern carrier and the asian carrier.

Commenter

got brain

Location

Date and time

February 27, 2014, 10:22AM

What about Nationalising QANTAS? I guess there is always Mc Jobs out there for the lucky few of those 5000.

Commenter

Homage to Catalonia

Date and time

February 27, 2014, 9:52AM

Will Alan Joyce's pay-out and bonuses be seven figures or eight?

Commenter

Tinfoil Pie

Location

Date and time

February 27, 2014, 9:52AM

Was 7, now 8 with the 5000 job losses.

Good work Joyce. Keep it up.. It might be 9 digits when Qantas closes down..

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 1:24PM

Meanwhile across the Tasman air New Zealand is making a nice little profit and it's mostly government owned.

Commenter

Amro

Location

Date and time

February 27, 2014, 9:50AM

Another iconic Australian gone. Joyce and his minions have a lot to answer for. Can the 5,000 job cuts start from the Board of Directors right through to Management. Qantas have been ripping us of for years with their cheap imported labour and employing staff from elsewhere. Also the number of international flights that are now only operated by Jetstar. The staff they employ are woeful at the best of times and now it will be every person for themself if you choose to fly with them.

I feel for the workers - the REAL ones who suffer at the hands of stupidity!!

Jo

Commenter

Jo

Location

Sydney

Date and time

February 27, 2014, 9:47AM

Jo, the real people suffering are the owners of the company (ie the shareholders) who are losing massive amounts of money in this business.The retiree who relies on dividends (either directly or through superannuation) has not had a payment from Qantas for 5 years.The board, being the elected representatives of the shareholders, must demand these sort of changes from managements.

Commenter

TimC

Location

Brisbane

Date and time

February 27, 2014, 10:14AM

The only Qantas employed that should be fired is Alan Joyce. He has personally driven Qantas to the brink of destruction ... the only word that comes to mind when I think of Mr. Joyce is 'boob'!

Commenter

JohnInHobart

Location

Huon Valley

Date and time

February 27, 2014, 9:44AM

The land going down under....IN EVERYTHING!

Commenter

DownDown

Location

Date and time

February 27, 2014, 9:44AM

goodbye Joyce is all she wrote

Commenter

qantas

Location

Date and time

February 27, 2014, 9:43AM

Alan Joyce needs to resign.

Commenter

Sydney1981

Location

Sydney

Date and time

February 27, 2014, 9:43AM

Joyce the wrong selection at the time and continues to be a very poor CEO. The Board at Qantas needs to show leadership, rid itself of Joyce and reestablish the loyalty ethic of the Qantas staff. What a disaster Joyce has been. And this was predicted by the Qantas staff when he was appointed

Commenter

B.W. from the Shire

Location

Cronulla

Date and time

February 27, 2014, 10:12AM

There are only a few jobs that need to go. Alan Joyce and the bunch and the industrial relations warriors that make up the board. In the years of the employee passenger lockout their annual loss was solely due to the lockout. Their subsequent losses have been due to the loss of goodwill the lockout caused. If they choose to get a substantial section of the community offside by playing politics there will be no national carrier. Until these polemic clowns and IR hardball games are gone, I'll be flying with the others

Commenter

cycloniq

Location

Date and time

February 27, 2014, 9:42AM

Job cuts are essential, but they don't need to cut 5000 employees, only 2. Alan Joyce and Leigh Clifford and things will start improving immediately

Commenter

Leonard

Location

Brisbane

Date and time

February 27, 2014, 9:40AM

Unfortunately Joyce does not have the honour to fall on his sword.

Commenter

Craig

Location

Date and time

February 27, 2014, 10:00AM

Hopefully he will announce he has sacked the board and is now going to,resign, but I won't hold my breath.

Commenter

Bearofthenorth

Location

Date and time

February 27, 2014, 9:39AM

Australians are very poorly served by having one big gorilla airline. We need 4 or 5 competing hard for our custom. We need an airlines "4 pillar" policy.

Commenter

nick

Location

Date and time

February 27, 2014, 9:38AM

4 pillars policy involves ensuring the separation of four big business from merger or acquisition of each other. You would have to have four big airlines to begin with. Australian market is too small for any more than 2 and having four small airlines would provide no benefit to the consumer as each airline would have severely limited capacity, a small network and limited growth prospects.

Commenter

Oxen

Location

Sydney

Date and time

February 27, 2014, 10:52AM

As long as (rogue) unions dominate, job cuts will keep happening, but did Qantas even bother to negotiate so the job cuts could be avoided? I don't think so

Commenter

Ram

Date and time

February 27, 2014, 9:35AM

Those pesky rogue unions are really destroying Virgin Australia too, aren't they! No, the problems with Qantas are at the top, and that's where the job losses really shoud be....

Commenter

Pete

Location

Deception Bay

Date and time

February 27, 2014, 10:21AM

Wrong @Ram, it was Alan Joyce's expansionist policies that have caused the loss. The same thing happened to Border's bookstores a few years back.

Commenter

Cam

Location

Melbourne

Date and time

February 27, 2014, 12:17PM

Ironic isn't it that today Air New Zealand announces a significant increase in interim profit. Proof if it was needed that even an airline at the edge of the world can make money if it is properly managed. Even more ironic that Rob Fyfe who steered ANZ so well is available for hire..........................

Commenter

Groucho

Location

Date and time

February 27, 2014, 9:34AM

Let's just see how far greed will drive this company into the ground! It's not the first time they been in deep doo doo's just hope this finishes them off! How do you support a company that treats it's customers and staff worse than crap! So long farewell Qantas! Oh and yes goodbye Mr Joyce enjoy your guaranteed bonuses!

Commenter

stnc

Location

St Peters

Date and time

February 27, 2014, 9:33AM

Alan Joyce resigns as CEO of Qantas.nah not going to happen..More like.. Thousands of jobs to be cut and CEO pay rise this year!

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 9:31AM

What we fail to see in this is the hopeless incompetence in QANTAS management and how that incompetence is being addressed. First the translation of currency should be positive, why is it negative? Costs should have improved, wages have not increased.. oops senior management got increases, so why are those costs ballooning when Aviation fuel ,landing costs etc all got cheaper with the Aussie at higher than current levels. Either management had poor hedging or they are hiding which?lets face it Joyce was used to running a budget airline and QANTAS is a job too big. How Delta or United would love to have the assistance that QANTAS receives. every major Corporate sends their executives without question, State Ministers and public Service flies QANTAS and our Parlimentarians fly QANTAS without ever questioning cost. To fix QANTAS, management issues need to be addressed and the Government should not be putting 1 c into the Company. Poor management has led the company to , and that management started with the previous hierarchy. Everyone forgets that if the now defunk Babcock and Brown had been successful in their Management Buyout , QANTAS would not exist. Directors then were unnecessarily compromised and they are still on the Board. A purge is required and a purge in hierarchy is definitely required

Commenter

Lindsay

Location

Stamford

Date and time

February 27, 2014, 9:26AM

Well said. Whilst those members remain on the board the suspicion is that Qantas is being deliberately run down to revive the windfall profits to "mates" a sell off of this once quality asset would bring. Despite Abbott's gutless passing the buck, so to speak, back to the shareholders , any funding guarantee must bring a change of management.

Commenter

Yvonne

Location

Date and time

February 27, 2014, 9:56AM

Translation of currency? You mean a lower dollar should be beneficial? Only if inbound business flows improve, but the rest of the globe is in a far more parlous state than we are, so it appears they ain't comin'. On the other hand some of the biggest cost components of the business are heavily impacted by a falling dollar e.g. Fuel, aircraft finance/leases, parts and in many cases maintenance (offshore), all priced in USD. Let's look at the positive side. Another 5000 Aussies with infinitely more time to search and buy property. Its clearly a hobby for our unemployed.......as unemployment ticks up so do property values. Go figure.

Commenter

Mark Tomarket

Location

Date and time

February 27, 2014, 10:00AM

Perhaps (think beyond the nine dots) Alan Joyce is doing this to BREAK the UNIONS. After all $252m is the cost of one A380. Bearing this strategy in mind, the next year's result will be a reversal. And of course there will be a HUGE bonus for Alan Joyce.

Commenter

Adam

Location

Sydney

Date and time

February 27, 2014, 10:09AM

The answer is obvious. Sack Allan Joyce and give Tony Sheldon the job. He appears to have all the answers. With power comes responsibility, or does it?

Commenter

col

Location

wyong

Date and time

February 27, 2014, 9:25AM

I agree, give the job to Tony Sheldon.

Commenter

Sharron

Location

Canberra

Date and time

February 27, 2014, 9:30AM

Sorry but you can't be serious - put the problem in charge? Union leaders are only worried about themselves and not about big picture. It's fine to beat your chest about needing better pay and conditions but when 5000 people lose their jobs they have no pay and no conditions. Globalisation has a big price for Australia where we just can't compete on wages alone. the big companies that are closing or making drastic cuts have one thing in common - plenty of unionisation - will people without jobs be thanking their unions?

Commenter

the Truth

Location

Melbourne

Date and time

February 27, 2014, 9:53AM

the_truth, Virgin Australia would have the same unionised staff as Qantas? Why are they not having troubles? Could it be the board and CEO? Damn right it is, and they have to go!

Commenter

Pete

Location

Deception Bay

Date and time

February 27, 2014, 10:12AM

Pete - it just isn't that simple - they don't have the unionised staff as you suggest - check your facts rather than just making an assumption and their business has support from a billionaire that Qantas doesn't have.

Commenter

the Truth

Location

Melbourne

Date and time

February 27, 2014, 11:44AM

Truth, I beg to differ. If they aren't unionised, then we better stop the TWU, the ASU, and VIPA from telling us they represent their members, who work at Virgin. There's also the ALAEA, but they weren't sprouting any airlines. The difference is the management attitude to their staff, and this is where Joyce is failing, not who's paying the bills

Commenter

Pete

Location

Deception Bay

Date and time

February 27, 2014, 12:25PM

Abbott and co. are licking their lips

Commenter

mcmc

Date and time

February 27, 2014, 9:24AM

Strange comment why would Abbott and co be licking their lips.? That character is more common in lefties. Just thought Id ask, perhaps it is me that is slow... It is the heat up here.

Commenter

Bob Young

Location

Gold Coast....

Date and time

February 27, 2014, 9:57AM

Alan Joyce reveals today how he aims to return the airline to profitability.1.) Resign!!!

Commenter

Trickster

Location

Date and time

February 27, 2014, 9:24AM

Harsh but so very true.

An old Greek once told me that 'a fish rots from the head'.

Commenter

Paul01

Location

Riverina

Date and time

February 27, 2014, 9:38AM

+10000 Trickster.

Commenter

madas

Location

Date and time

February 27, 2014, 9:39AM

2)Fired

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 9:43AM

Looks like Joyce went to Sol Trujilo shool of business....sack thousands to justify his salary and bonuses

Commenter

shemp

Location

melb

Date and time

February 27, 2014, 9:55AM

As long as Qantas is dictated by militant unions, it will never be able to compete in the cut throat airline industry. The Qantas Sale Act is a joke and Nick Xenophon should know better!Its open competition out there, whether other airlines are backed by their state or not....

Commenter

Investor

Location

Date and time

February 27, 2014, 9:20AM

Investor - the thing is Unions don't manage the airline. Unions don't decide the fleet composition, they don't decide where engineering services will be located, they didn't create Jetstar, they don't manage the airlines finances, ad infinitum. The unions represent employees of Qantas, simple as that, and the airlines management signed off on employment contracts that management negotiated with the unions, just like the way that same management signed off on all those other decisions that have brought this airline to its knees. Investor, you play a popular tune on your one string violin, but it's always the same old tune.

Commenter

Neil (not on radio) Mitchell

Location

Melbourne

Date and time

February 27, 2014, 9:41AM

Well, Joyce has successfully driven the 'Qantas' brand to the ground and now trying to get the taxpayers dollars to continue lining his pocket.

either sack him, or let the brand go. Joyce will continue destroying the brand until he can't get any more 'free' dollars to line his own pocket.

if it is a Salesman caused so much losses to the company, he/she will be sacked long ago! this CEO clearly has no direction for the company. Let the staff vote if they still want this person to 'lead' the company. If they still trust him, provide the public with the plans and directions he is doing to bring this company up before asking for taxpayer help.

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 9:41AM

So the Unions are responsible for hack business decisions by the executive? Are they responsible for the ridiculous pi$$ing contest that Qantas puts itself into by adding two seats for any other airline adding one just simply to flood the market, regardless as to whether it's sustainable?

Commenter

Jay

Location

Date and time

February 27, 2014, 10:00AM

@Neil (not on radio) Mitchell You've obviously never spent anytime working with Qantas. Everyone in the industry knows that the unions manage the airside operations of all the Australian airports and any attempt by 'Management' to interfere will lead to a walk out or a go slow. The fact that management and governments over many years have allowed this to continue for so long is a disgrace. Clearly, no change was possible under Rudd/Gillard but this dynamic predates their governments.

This is a painful but necessary event for Qantas and it stakeholders. If done correctly with a wholesale restructuring of all processes and organisation structures and remuneration structures the airline will emerge must stronger for it. Qantas has to become lean and efficient if it is compete in what is an extremely competitive industry. Any notion of shielding Qantas from this competition only places a tax on the rest of Australia which is definitely the wrong way to go.

Commenter

Robert

Location

Brisbane

Date and time

February 27, 2014, 11:33AM

An Airline or any business backed by a state is not on. That can be seen as an attack on another country by covert means . There is more than one way to attack a country

Commenter

Dan

Location

Date and time

February 27, 2014, 11:34AM

Joyce HAS to go.

Commenter

beautiful one day Bleijied the next

Date and time

February 27, 2014, 9:19AM

Agree get Rid of joyce. Air NZ posted a healthy profit today..Why cannot Qantas do the same..Damm kiwis lol

Commenter

Sack the Mick

Location

Date and time

February 27, 2014, 9:37AM

So do we give a bouquet of flowers to the person / persons who appointed Alan Joyce to the position of CEO QANTAS ?

Commenter

Adam

Location

Sydney

Date and time

February 27, 2014, 9:58AM

how much of a paycut has Joyce and the board taken?

Commenter

lin

Location

melb

Date and time

February 27, 2014, 9:16AM

thousands of job cuts. Wow. The media can barely contain its excitement.

Commenter

tim

Location

Newtown

Date and time

February 27, 2014, 9:15AM

Nor you.

Commenter

Yvonne

Location

Date and time

February 27, 2014, 9:57AM

Why are Australian tax payers underwriting investments made by foreign companies in Qantas or any other company to that matter.

What type of looney's are running this show!

Commenter

Andy

Location

Date and time

February 27, 2014, 9:10AM

As always, a government policy causes market distrotions, which creates winners and losers and then the government comes in again to fix those distortions with yet more market intervention, setting off another set of winners and losers. The 49% cap on foreign ownership has raised the capital raising capacity of Qantas. Now by giving Qantas the benefit of a government guarantee, it will create further distortion by giving unfair advantage to one player in the capital markets. I say just, free qantas of the foreign ownership cap and let the free market takeover from there.

Commenter

Ozilibertarian

Location

Sydney

Date and time

February 27, 2014, 9:31AM

Well goes to show who are the current governments allies and who are the not.

If Qantas can't get rid of the current management, then it should just go. My tax dollars should be used elsewhere not lining the corporate failure's pockets.

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 9:35AM

I completely agree Andy. This whole level playing field argument is a nonsense. All global businesses have issues and a regulatory framework to deal with sometimes it presents advantages and sometimes disadvantages; but it is ridiculous for Qantas to keep suggesting that they are in some way much worse off than their competition. They have just made some very poor management decisions and now expect to be given a free ride. Why?

Commenter

Seriously

Location

Date and time

February 27, 2014, 10:26AM

@Andy Companies have both debt and equity. The debt holders interests are secured by the assets of the company, whilst the equity holders have the rights to the profits after tax.

The government is only proposing to underwrite debt holders so that Qantas can access cheaper debt as many of its competitors have this ability because they're owned by governments, e.g., Singapore Airlines, Malaysia Airlines, Emirates, Eithad, etc., etc.

The raising of the Foreign Ownership limit only effects the equity holder structure of the company. It allows the company to raise more funds through the issuing of stock. The current limits mean that they must try to sell equity to Australians which is quite limiting due to the size of the local market and also because there are few large investors who could create a competitive advantage by linking with Qantas.

Commenter

Robert

Location

Brisbane

Date and time

February 27, 2014, 10:44AM

Bad-bye Joyce. Take your axe with you when you go. Don't forget to turn off the lights.

Commenter

3217

Location

Date and time

February 27, 2014, 9:06AM

The only reason why he is cutting all the jobs so that he can have his pay rise this year AGAIN.. Joyce Leaving? no way!

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 9:32AM

The choice may not be his, Buddy!

Commenter

3217

Location

Date and time

February 27, 2014, 10:55AM

he will remain as the boss. he will cut the australian work force and move operations elsewhere and rehire staff at 1/4 the salary or less.just like toyota chevrolet and ford have done.also just about every mining group around.seriously there are literally millions of highly qualified unemployed people floating about from numerous countries of origin desperate for work.your job is next.

Commenter

smilingjack

Location

Date and time

February 27, 2014, 11:26AM

He should have fallen on his sword long ago... the only honorable thing to do.

Commenter

Reality Bites

Location

Date and time

February 27, 2014, 11:59AM

The speech today should be

I'm so sorry to produce such work and cause our national airline to end up in the current state. With that I tender my resignation and my bonuses.

Take a $1 per year salary and tie his pay to the performance of the airline if he is at least half decent. If he is really sincere to solve the company's problem. Like Steve jobs on his second stint at Apple.

When Microsoft lost so much market share, CEO Steve Ballmer took Real responsibility and stepped down!

Why is this guy still still here?

Commenter

Andreu

Location

Sydney

Date and time

February 27, 2014, 1:17PM

I'm keen to here Alan Joyce's response to claims of significant $ in costs shifting from Jetstar to Qantas to make Qantas appear unprofitable. Surely Qantas management would not be cooking the books as that would be less than honest and not in keeping with brand image.

It's time for Left and Right to work together on this with compromises from both.

But it will have to include unions accepting the need for reasonable wage outcomes and greater flexibility when Aussie businesses are struggling to survive. Otherwise the numbers just don't add up to keep jobs in Australia.

Commenter

Gatsby

Location

Date and time

February 27, 2014, 9:22AM

Not to mention illegal.

Commenter

Jay

Location

Date and time

February 27, 2014, 9:32AM

Gatsby, Australia no longer has any business's. They were all sold to foreign multinationals and governments applauded the foreign "investment". The assets are then run down and the business gets closed down.

Commenter

Charley

Location

4285

Date and time

February 27, 2014, 9:44AM

Do you mean " Hear", or here? Just thought I would ask

Commenter

Bob Young

Location

Gold Coast....

Date and time

February 27, 2014, 9:55AM

You don't have to "cook the books" to produce this effect. When Jetstar was being established it received many services from Qantas staff for which there was no charge. Qantas the airline was subsidising Jetstar. I don't know if this is still happening but I wouldn't be at all surprised.

It's probably not illegal, since Qantas (the company) owns both airlines, but it can certainly distort the financial picture.

Commenter

Frazzle

Location

Date and time

February 27, 2014, 10:16AM

@Bob Young.Thanks for the quantum shift in the discussion. Given that hear makes sense and here doesn't I'll leave to figure out which one is correct. Hugh value added.

Commenter

Seriously

Location

Date and time

February 27, 2014, 10:19AM

@ Frazzleparticularly when you are looking for a government handout.

Commenter

Seriously

Location

Date and time

February 27, 2014, 10:28AM

@Gatsby sensible response, this is exactly how I see it too, but this will be hard for Australia to accept because it is so used to the outdated lifestyle and mentality. We can't catch up to the world as it is.

Commenter

Pomato

Date and time

February 27, 2014, 11:19AM

@ Frazzle.Government may have a reputation for being inefficient but when it comes to intracompany transactions gov is very scrupulous about ensuring correct costs are assigned to different business entitys within the orginisation.

Commenter

Ryan

Location

Date and time

February 27, 2014, 12:29PM

The books are being cooked! This man Joyce is a cunning devious person he has a typical small man big ego syndrome.His plan is too dismantle Qantas an world proven airline and use any funds he can by any means lies, cooking books, holding the government too ransom, funding his vision turning Qantas airline into Asian carrier similar to AIR ASIA and the Flying Kangaroo will take-on a new image and brand name ‘QANTASIA’ This has been his goal since arriving in Australia,